Bloomberg writes that in addition to laying off what amounts to half its workforce, the company will wind down its consumer-focused business, which included video games and entertainment apps.
It will focus on enterprise uses, potentially including a partnership with a large unnamed health care company
EDIT 20200522
Magic Leap raises $350 million and puts layoffs on hold
https://www.engadget.com/magic-leap-raises-350-million-puts-layoffs-on-hold-034824726.html